Purchase Announced to Create Largest Retail Auto Parts Chain in U.S.
SEATTLE (AP) _ The parent company of Schuck’s Auto Supply has announced it will buy the Checker Auto Parts subsidiary of Lucky Stores, Inc., creating the largest retail auto parts and accessories chain in the United States.
The $155 million cash purchase, which includes Kragen Auto Parts, is scheduled to close later this month, Eddie Trump, president of Northern Pacific Corp., said in a news release Monday.
Northern Pacific owns Schucks, which operates 95 stores in Oregon, Washington and Idaho.
Checker, based in Dublin, Calif., operates 378 stores in 12 Western states under the Checker and Kragen names, Trump said.
Checker and Kragen had sales of $303 million in the fiscal year ended last February.
″It’s the perfect marriage,″ Dan Siewert III, Schuck’s president and chief executive officer, told The Seattle Times. ″Checker is in 20 markets, and it dominates 12 of them. Schuck’s dominates the Northwest.″
He said Checker Auto Parts, Kragen and Schuck’s Auto Supply will continue to operate under their current names. He also said the combined operation would open 100 new stores in 1987.
Northern Pacific Corp. is part of the Trump Group, owned by Julius and Eddie Trump. It also owns Lamonts, a chain of 32 family apparel stores in the Northwest.
Northern Pacific also announced last Friday that it would buy Fair Lanes, Inc., the nation’s largest independent operator of bowling centers, for $95 million.
The sale is part of Lucky Stores’ restructuring aimed at averting a takeover effort by New York investor Asher Edelman.